Park Falls, WI Profile: Facts & Data

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Park Falls, Wisconsin - Basic Facts

The City of Park Falls had a population of 2,391 as of July 1, 2023.

The primary coordinate point for Park Falls is located at latitude 45.9344 and longitude -90.4416 in Price County. The formal boundaries for the City of Park Falls encompass a land area of 3.6 sq. miles and a water area of 0.23 sq. miles. Price County is in the Central time zone (GMT -6).

The City of Park Falls has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Park Falls 2023 Demographic Data
  2. Growth Rates for Park Falls (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Wisconsin Research Tools (Easy Tools & Current Data)
  3. Wisconsin Data Comparison Tool - 2023 Demographics
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Park Falls, WI Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 2,391 (100%)
Population in Households 2,299 (96.2%)
Population in Families 1,652 (69.1%)
Population in Group Quarters1 92 ( 3.8%)
Population Density 635
Diversity Index2 21
 
 

INCOME

Median Household Income $45,375
Average Household Income $63,488
% of Income for Mortgage4 12%
Per Capita Income $29,416
Wealth Index5 49
Socioeconomic Status Index6 Moderate (47.0)
 

HOUSING

Total HU (Housing Units) 1,284 (100%)
Owner Occupied HU 718 (55.9%)
Renter Occupied HU 388 (30.2%)
Vacant Housing Units 178 (13.9%)
Median Home Value $89,631
Average Home Value $126,184
Housing Affordability Index3 176
 

HOUSEHOLDS

Total Households 1,106
Average Household Size 2.08
Family Households 593
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -0.24% -0.28%
Households -0.55% -0.05%
Families   0.00%
Median Household Income   2.51%
Per Capita Income   2.96%
Owner Occupied HU   0.44%

Park Falls, WI - Peer Comparisons by Rank and Percentile

The table below compares Park Falls to the other 807 incorporated cities, towns and CDPs in Wisconsin by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 249 69th
Population Density # 392 52nd
Median Household Income # 775 4th
Housing Affordability Index # 783 97th
Per Capita Income # 708 12th
Diversity Index # 389 52nd

Additional comparisons and rankings can be made with a VERY EASY TO USE Wisconsin Census Data Comparison Tool.

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